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20121008
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CNBC 55
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CNBC
Oct 3, 2012 7:00pm EDT
of the university of denver. 8:00 p.m. eastern, president obama and mitt romney will face off in their first of three debates. we have an all star panel tonight. former congressman rick lazio and former clinton white house aide keith boykin. and herman cain tells us what it's like to debate kevin madden. it's all about leadership and leadership means taking control of the conversation. that's just my advice. in an anemic overall economy, we've seen some positives in recent days. the ism services surprised on the up side today, 15 million car sales yesterday and of course stocks have been rising since a year ago today. the s&p is up 32%. so things can't be all that bad. how will the investor class vote in 34 days? but first up, both mitt romney and president obama are in their respective hotel rooms now. they're making final preparations for the big debate and cnbc's own john harwood joins us live with the details. good evening, john. >> good evening, larry. two hours from that debate we've gotten a reminder in the last 24 hours with a slew of polls of how high the stakes are in this debate.
CNBC
Oct 4, 2012 7:00pm EDT
familiar? reagan. the market by the way loved it. stocks up 81 points on the dow. call it the romney rally. plus lastly america's brave warriors are being denied the right to vote. this is a terrible story. why is team obama and the pentagon not helping our fighting men and women cast their absentee ballots? we will have that story. >>> the day after mitt romney politely and respectfully cleaned obama's clock president obama tried to quickly turn the page. cnbc's amin javers has more. >> reporter: the day after the debate strategy tells you which campaign this they won last night and which did not win. mitt romney spoke on tv after the network newscasts had gone on the air. that forced the tv networks through the day and the evening broadcast this is evening to use pictures from last night's debate again and again. president barack obama, however, had two rallies including one in denver, colorado where he had sort of a chance to do a do-over from last night. take a listen. >> when i got onto the stage, i met this very spirited fellow who claimed to be mitt romney. but it couldn't have been
CNBC
Oct 1, 2012 7:00pm EDT
debate. romney is totally debate fit in my opinion. he is in fighting shach after demolishing ten opponents in 20 debates. mr. obama on the other hand, he's a bit doughy, i don't think he's in shape for this. and by the way, just minutes ago, north korea accused the united states of plotting to attack it as a steppingstone to dominate asia and has used the word nuclear war. well, how does president obama plan on handling these nut jobs? let me tell you that wednesday's debate, romney is going to broaden his message to include foreign policy. >>> plus we have a surprise increase in the ism manufacturing report. >>> plus again bernanke defends his debt plan. he's enabling the obama treasury to sell trillions of dollars in deficits. >>> hundreds of mexicans are involved in the fast and furious. this is a terrible story, hundreds of mexicans may be involved. should attorney general holder be fired immediately over this new information? >>> the ism signals no recession, that's good. but is the obama-bernanke qe stimulus plan going to bail out the president in this election and what abo
CNBC
Oct 3, 2012 8:00pm EDT
tonight? >> what i'm watching for is how mitt romney takes advantage of this huge opportunity that he's got with tens of millions of americans watching these two side by side. he's behind in the polls, but not by an overwhelming margin. three points in our nbc/wall street journal poll. i talked to devine who was the campaign strategist for al gore. when gore lost the election, in the debates he said here's what's mitt romney's got to do. he's got to figure a line of attack that at the same time makes president obama looks bad, makes him look good, and press that through the entire 90 minutes. it's an economy debate. that is supposed to be mitt romney's wheel house. we'll see if he can pull that off in the right tone against a popular president. it's hard. there's always risk when you attack the president. mitt romney doesn't have much choice but to try to do it. we'll see where the help of jim lehrer, the moderator, exactly how he uses this moment. >> talk to you in a moment. whenever there's a big night involving politics, you can bet larry kudlow is involved. he's here on set with u
CNBC
Oct 4, 2012 11:00pm EDT
floats your boat. on a day when many stocks were buoyed by mitt romney's victory over president obama, let me tell you how i watched. i watched the debate within the parlance of my world, the stock world. i watched it with an eye towards making you some money. tweeting every potential stock idea triggered by either gentleman. ♪ how can you try to make money from the debate? let me parse it for you. show you how it's done. going over the actual statements by each candidate translating them into cramerican. let me tell you, there were tons of cramericans on twitter. if you tweeted me about the debate, keep an eye on the twicker running below. you may see your tweet. romney went right into a call for north american energy self-sufficiently, singling out coal as an endangered species under obama. listen. >> i like coal. i want to make sure we can continue to burn clean coal. people in the coal industry feel like it's getting crushed by your policies. >> lots of bozos went in and bought the coal stocks. all the coal stocks on. this wrong take away, people! coal's hostage to chinese deman
CNBC
Oct 5, 2012 7:00pm EDT
as the romney roll continues. scott rasmussen has three polls showing a dead heat in battle ground states, hai, virginia, florida. even the liberal magazine "the new yorker" sees it on their front cover, mitt romney pulling a clint eastwood, debating an empty chair. first up, it was the tweet that was heard around the world. my good friend jack welch set off a social media firestorm. take a look at his tweet. "unbelievable jobs numbers. these chicago guys will do anything. can't debate so change numbers, end quote. he's chase by accusing the white house of skewing the data to help president obama. earlier on cnbc, u.s. labor secretary fired back with this response. please take a listen. >> these are our best trained and best skilled individuals that have been working in the bls and it's really ludicrous to hear that kind of statement. >> here now is the legendary jack welch, former ge chairman, ceo and great friend of "the kudlow report." it's great to see you. i don't feel like defending obama, i don't feel like defending the labor secretary but i got to tell you, i worked in the white house
CNBC
Oct 4, 2012 4:00am EDT
romney comes out swinging in his first debate with president obama with the two men sparring over how to fix the u.s. economy. waiting on spain, the ecb expected to hold steady on rates. country's president tells cnbc that europe's policymakers must remain focused. >> if we get bogged down into what was meant by the june agreements and waste time on this kind of discussions, then it's much less likely that a coherent system will emerge. >> madrid continues to put faith in the hands of private investors while finance minister heads to london to raise funds for the country's bad bank. and india's crucial services sector grows at its fastest rate in seven months, while the government gets set to take another swing at boosting it through foreign investments. thanks very much for joining me. anyone that's missing ross, he'll be back in tomorrow. but for now, you're all mine. . plenty to come on the next couple hours of the show. lots of guests to help us figure out what's going on. we'll get a view from sydney about cautious shoppers. borrowing costs are expected to fall. we'll bring you t
CNBC
Oct 4, 2012 5:00pm EDT
. >> live from the market in new york city's times square. stocks getting a boost today and is this a romney rally? what is the best way to play it. >> i think you have to look at the sector that is most undervalued. i think a romney victory brings back the return of normalized earnings much faster. you will see a regulatory environment that is more in line with what i think the 2012 market should be. we have over regulated in that sense and the value of the us dollar under romney will get stronger. >> karen? >> i agree with what he is saying. there is the perception of economic growth and if that is the case and less regulation, i think you are see the industrials get better. >> i think if we can get back to 2007 and 8: 20 2007 and 2008 levels, it will be better. >> how often do you get a candidate that calls out a sector like that? >> it is not just the president and regulations that have hurt coal stocks? >> that has hurt it as much as the president holding things back. but obviously romney calling this out is why stocks were up 6 to 7%. the question i have is up to what day do you decide
CNBC
Oct 3, 2012 5:00pm EDT
bring more on to the export market. >> one would hope mr. romney or the president would acknowledge side of those opposing y we are the regime in teheran. >> great discussion. michelle caruso-cabrera and our thanks to dennis gartman. let's trade this thing. >> we have a huge skew. we are at record levels for the vix, not the spot vix but the futures. in other words, if you go out, folks, just six months into the futures they are ten points higher than where the spot is right now. so if what dennis says and his observations as well as michelle and michelle if we see a regime change you will see that vix, those futures come down dramatically because that steepness of that curve is there because of the potential that it goes the opposite way, the potential that we have some sort of nuclear issue or israel drags the united states -- >> this is not a regime that walks away easily. this is not like flipping the keys to an apartment that you are done renting. these businesses in power. ahmadinejad is a puppet for much bigger powers behind the scene. my concern would be this is not going to be a
CNBC
Oct 4, 2012 9:00am EDT
presidential debate, and the big question is, will we see a romney bounce that could be a game changer in the race for the white house? good morning. welcome. i'm melissa lee along with carl quintanilla and jim cramer. david faber is at the economic summit in larue, texas. he'll join us from there in just a few minutes to kick off an exclusive interview with meg whitman. let's have a look at the futures this morning. we are seeing a positive bounce here. we are digesting, as we mentioned, last night's debate as well as jobless claims which came in lower than expected. the previous week was revised slightly higher. we are, of course, looking ahead to the jobs report on friday. as for europe, the ecb, as expected, holding the course on rates. we are looking at these headlines crossing from mario dragi. we'll monitor those as to where he will stand and the ecb stand on future rate cuts. >>> our road map starts in denver where president obama speaks this morning, trying to counter the widespread perception that he lost last night's debate. his in-rate contract down 7%, but do stocks have t
CNBC
Oct 4, 2012 6:00am EDT
. >> right now it's down to about 66% in trade obviously suggesting romney got a big boost. >> mini flash crash. >> among our political guests this morning ready to talk about the road to election today, arianna huffington will be our guest host. huffington "post" obviously has a left bent, but it was declaring romney won the debate. ken duberstein will join us, as well. >> i was reading some of your tweets last night, john, and i liked your tweet. i tell you what i took away from the entire debate because i want to let you say it, but i saw what's possible in a life spent without any alcohol. i saw what i could have possibly been -- i saw how i could have possibly been able to talk if i had all the brain cells that i started with. and that was what i came away with. that i just wish in a maybe i had considered that path maybe of being, you negotiation life of sobriety. anyway, what did you think, john? >> well, romney considered that path and he took that path, joe, and he tried to press his case last night. the challenge for him was to come out with the kind of aggression that could sco
CNBC
Oct 3, 2012 4:00am EDT
obama and mitt romney have jabbed at each other from afar for weeks, but now they get to do it face to face as they get set tonight for their first debate. slipping growth hits home in china's resilient services sector. >>> and more signs of trouble for the spanish government as the latest figures show its corporate tax revenue has tumbled. mariano rajoy issues the latest denial that he's ready for a bailout. >>> we now have the latest numbers crossing for the eurozone services pmi. the september final services read coming in at 46.1. an improvement that we have seen from the 46 number. this is still the lowest level we're seeing since 2009. the forward indication 49.4. in terms of what we're seeing on the final comp sit pmi, this is above the 45.9 read that we have, but just a fraction below what we saw in august, the rate was 46.3 then. this is the lowest read since may 2009. in terms of new business number for the composite september rate, 43.8. we're still right back at some of these 2009 lows. >>> elsewhere, the numbers are not that much better. lisa has more on these numbers o
CNBC
Oct 4, 2012 1:00pm EDT
of days mitt romney has to solidify the gains that he made last night. so how will the president and the markets respond? we'll be looking at that. >>> 767. that's the other number. google, all-time high in morning trade. see why a lawsuit may have given the stock its added pop and taking it up there to that airplane. that boeing number, 767. >>> and 1 billion. the number of monthly active users now using facebook. what's not to like? sue, the markets are liking something today. tell me what it is. >> they are, tyler. up across the board. we've been up since the opening bell. we'll get to why in just a second. >>> attorney general eric holder holding a news conference right now. it concerns major crackdown on medicare fraud. our senior correspondent scott cohn who covers that particular area in addition to many other things is joining us with the headlines. >> sue, it is something that we've been talking about a lot. this is amidst a three year crackdown on medicare and medicaid fraud by attorney general eric holder. more than $400 million in fraud alleged in today's operation. m
CNBC
Oct 2, 2012 7:00pm EDT
looking at tonight? >> mitt romney floats and idea to cap keyductions across the board. we set up our own debate. those are the topics we are going to tackle. and this evening. listen to vice president joe biden on the trail. it is the gift that keeps on giving. >> how they can justify. raising taxes in the middle class. it has been buried in the last four years. how in the lord's name. >> that is nodt a froidian slip. plus three stories that happen to break before the election. a leftist new york attorneyy general looking to bash banks and that is as phony as a $3 bill. also a judge strikes down pennsylvania's voter id law and the obama administration is telling companies it is okay to disregard the law when it comes to handing out pink slips in advance to big budget cuts. all three happening before the election. mitt romney has finally put meat on the bones of his tax reform idea. he floated the idea of a $17,000 cap on tax reform reduction. >> you could say everyone is going to get up to a $17,000 deduction. you can fill that bucket if you will and higher income people might have a low
CNBC
Oct 3, 2012 3:00pm EDT
romney briefly unveils his version of tax reform ahead of tonight's presidential debate. but will it work to close the gap in the polls? we'll break it all down right here on the "closing bell." when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> welcome back. apple helping to push the nasdaq higher for a second straight day. we said this yesterday, but it's worth repeating. apple accounts for just under 19% of the nasdaq 100. let's get to bertha coombs. >> it really is the big apple. yesterday we saw a technical reversal and a technical levels. apple shares fell below their 50-day moving average and zoomed back up. if you look at that chart, they are extending gains here today. also, apple changing the landscape, perhaps. reports say it's set to put out a mini
CNBC
Oct 3, 2012 6:00am EDT
>>> good morning, everybody. welcome to "squawk box" here on cnbc. president obama and mitt romney now have about 15 hours until they take the debate stage at the university of denver. >> people want to know who's going to win? who's going to score the punches? in my view, it's not so much winning or losing or even the people themselves, the president and myself. it's about something bigger than that. >> no, no, governor romney, he's a good debater. i'm just okay. but what i'm most concerned about is having a serious discussion about what we need to do to keep the country growing. >> a new nbc news "wall street journal" poll finds that nearly four in ten voters say that the upcoming debates will be either extremely or quite important to determining their vote for president. another 34% of voters polled say that the upcoming debates will be somewhat important to their votes, so the stakes are high tonight. president obama's lead in the nationwide polls is narrowing. meantime, romney has pulled even in florida. john harwood is in denver this morning and he will join us in just a few
CNBC
Oct 4, 2012 12:00pm EDT
're following on the halftime show today. face lift. facebook is reachinging a billion users. >> romney rally on the heels of the first presidential debate. did the governor improve his chances for november and if so, how you should be trading it. >>> first, the other big debate, whether the stock market which is having its best day in a few weeks is about to take its next leg higher. jb, you first, are we on the precipice of a leg up in the market? >> i think we've been in a leg up in the market. it looks like we kind of took a break in mid-september, but certainly the markets have felt more buoyant, especially this morning. it's really tough not to like the setup in stocks. that's the talk with talking about the market so generally. there's some great setups even if you think the market's gotten ahead of itself, i think that's what's gotten people coming back. tech obviously and financials now and health care which really looks fantastic. >> mike murphy, are we going higher from here? are we about to take the next significant leg-up? >> i think we are. >> the market has been holding its key
CNBC
Oct 4, 2012 3:00pm EDT
'm belill griffeth here at the big board. some say mitt romney may have reset his presidency bid with the debate tonight. stocks are higher. he's generally viewed friendlier to business in wall street. we're also seeing specific groups move in sync with romney's position. coal stocks, for example, getting a lift after he addressed support for them last night. hospital stocks are down on concerns heck make big changes to elements of obamacare that could help hospitals. we should point out energy is very strong today. that, of course, has been one of the leaders for stocks this year. they are powering the market higher as well today with the dow just off the highs, up 86 points. the nasdaq's up 12 points right now at 3148. the s&p is up 10-plus points right now at 1461. maria. >> all right, bill. the minutes from the federal reserve september policy meeting today out shedding little new light on the fed's future plans, but of course tomorrow's september jobs report will off more clues about the health of the economy. we're going to get some thoughts about what to expect out of the
CNBC
Oct 4, 2012 4:00pm EDT
. is this a romney rally following that debate last night or more so on the heels of commentary out of europe? top strategists will be weighing in on what was behind today's moves. some on the street are speculating that the rally has to do with the strong showing by governor mitt romney last night in the first presidential debate of the 2012 election. let's get to courtney reagan. she's breaking down the stocks today that moved or could have been moved in one direction or another as a result of that. over to you. >> thank you, maria. mitt romney did need to revis revitalize his campaign. it looks like he did it last night. wall street took some notice today. coal stocks, one of the big winners in today's trading after romney made this comment to president obama. >> by the way, i like coal. i'm going to make sure we can continue to burn clean coal. people in the coal industry feel like it's getting crushed by your policies. i want to get america and north america energy independent so we can create those jobs. >> if you're bullish on coal, you're going to like this. take a look at how we performed
CNBC
Oct 4, 2012 2:00pm EDT
trump and his, well, smallness. during the tax debate, romney said the top earners are really small businesses and they should not be taxed more. obama said they're more like donald trump and they should pay more. >> i'm not going to reduce the share of taxes paid by high-income people. high-income people are doing just fine in this economy. they'll do fine whether you are president or i am. >> after the trash talk on donald trump, obama attacked -- >> they're all a bunch of millionaires and billionaires who are small businesses. donned trumps is a small business. i know donald trump doesn't like to think of himself as small anything, but that's how you define small business, if you are getting business income. >> that's the right sound bite. after that sound bite, obama then attacked jet owners saying if you have a private jet you should be taxed more. even romney, he's pretty wealthy himself, he refused to come to the support of the wealthy. skip that sound bite i guess. of course, no one should feel sorry for the rich. let's save our tears for poor big bird. but the debate showed
CNBC
Oct 5, 2012 6:00am EDT
and romney campaigns. our ges both served as chairman of the economic advisers. austan goolsbee and ed lazear under president obama. but first this morning's headlines. >>> you wanted music but you didn't pick this? >> no but it didn't bother me until you started mocking it. >> she want us just to talk, no music. >> let's get to spain and its finance minister. sparking laughter from an audience in london today, why he told a group of academics that his country doesn't need a bailout at all. that's interesting. the minister is arguing that madrid's reform program right now is already sufficient to stave off a full sovereign bailout and the ecb's bond buying program would suffice. to help spain recover. that's apparently how it started, with -- you can imagine -- that's bad for confidence of the minister of spain where he's telling an audience, we don't need a bailout and then you hear a whole auditorium laughing. morgan stanley is warning that more pay cuts are coming. in an interview with the ftc, james gore man said more job cuts and smaller bonuses are planned next year as the bank attempts
CNBC
Oct 3, 2012 2:00pm EDT
it for this edition of "power lunch." >> street sign begins right now. >>> the latest polls have romney looking up, but could that lead the stock market down? it is our hot debate of the day. oil continues its slide. good news, america? maybe not. >>> plus, with home re-fis soaring, who's really seeing the new trickle-down money. >>> and we'll wish a happy birthday to the most successful acronym ever. it is a surprise party. >>> here's the big market story right now. it is oil and it is taking a real tumble. below $90 a barrel, its lowest level since august the 3rd. the rest of the market is looking pretty flat. let's get straight to the oil trade. >> the action is certainly in the energy markets today, mandy. we are looking at oil prices now near the lows of the session. this 3% to 4% slide that we have seen both in the wti oil market and brent crude market started overnight. there was a great deal of negative sentiment with the china pmi data, eurozone pmi data, concerns about weak demand. add to that the fact that the asian development bank talked about its gdp growth forecast for 2012-2013, re
CNBC
Oct 3, 2012 1:00pm EDT
for that component. services was down in september but still above the 50 point. i don't think romney turns to obama and says we are doing gangbusters on jobs but they are in the 200,000 range. >>> housing the other part of the story. one more sign that the housing market may be creeping back. mortgage applications surging almost 17% last week. but as more people are looking to buy, that is not good news for the rental market. new numbers out today raising new questions about whether there will be enough demand for all of those new apartment buildings. diana olick joins us with some worrying new figures. diana. >> reporter: yeah, that's right, sue. apartment demand had been red hot but we've got new numbers out do that show we may have reached the peak. apartment vacancies are still coming down but now at the smallest rate in over two years. absorption of new units also slowing and rent gains coming way down as well. this is an avalanche of new apartments coming online, multi-family housing starts were up 37% in august from a year ago. between 160,000 and 200,000 new units will open in kw? a where h
CNBC
Oct 1, 2012 6:00am EDT
break, talk presidential politics and what paul ryan says about the romney/ryan tax plan. chools in e world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120. where did you get that sweater vest? your ford dealer. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like
CNBC
Oct 2, 2012 2:00pm EDT
of winning this year is it a, mitt romney, or b, the new york jets? vote now on our show page, street signs.cnbc.com. the results, mandy, later in this cablecast. >> indeed. in fact, watching the trading day starting off in rally mode but that buying spree was short circuited about spain's fiscal situation. the dow lost a 52-point gain and on track for the sixth loss in eight session. the numbers more bearish for the s & p 500, down for the ninth time in 12 sessions and losing about 1.6% over that time. the nasdaq near break even, trying to avoid a six of seven losing streak t is down about 2% in that period. brian? >>> the u.s. is addicted to budgetary crystal meth, those words from a man we are now calling "breaking bad" bill gross there he is. his new picture. he outlined america's severe spending addiction in his latest investment outlook and he has got some eye-popping stats on how much debt we may really have. he joins us now in a first on cnbc interview. all right. enough enough of the pop culture references are. i had to do all could i to not drink heavily bufrt show when i saw the
CNBC
Oct 3, 2012 9:00am EDT
for the big event. john? >> reporter: melissa, we've got several pieces of encouraging news for mitt romney from not only the wall street poll but swing states poll. you mentioned that mitt romney's closed the deficit among likely voters for obama from five points to three points. and in florida, he's closed from five down to one which is tied given the margin of error in our poll. in virginia, he has closed the gap from five to two. if you look at the state of ohio, a must-win state for mitt romney, mathematically possible for him to get to it without it but his strategists think he needs it. he needs to make progress there. but the fact that some of the national polls are coming back a little bit, some of the swing state polls are tightening, is a bit of an earn couragement for romney that he still has an opportunity for deficit with three or four points to change the dynamic in some way. he's got to hope that obama is not on his best game. you could have a scenario that like what happened in 2000 where george w. bush moved significantly without gore and ultimately became president. >> it
CNBC
Oct 2, 2012 6:00pm EDT
'm bara ck o bama and i approve i'm bara this message. ck o romney: "it's time to stand up to the cheaters" vo: tough on china? not mitt romney. when a flood of chinese tires threatened a thousand american jobs... it was president obama who stood up to china and protected american workers. mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120. where did you get that sweater vest? your ford dealer. >>> we practice buying homework not buying whole. people are eating diets with more and more mea
CNBC
Oct 5, 2012 3:00pm EDT
since governor romney looks like he's doing better than people thought. what's your thought short term in the next month for the election and going into the end of the year? and i'm talking about the stock mark. >> so in terms of the elections, yes, governor romney is doing better because he had a better outcome in the debate. i think most people still recognize that he has a lot to do. remember, romney has to do two things. one, he has to convince that president obama has not delivered. second, he has to convince the american people he can deliver. so he has to do it both things. there's still some heavy sledding for him on both fronts. in terms of the market, i think that over the next few weeks and months we're basically going to be driven not only by the political process but whether we get data that confirms the handoff from central bank action to fundamentals will happen. otherwise, this wedge that the central bank have created between valuations of fundamentals cannot be sustained forever. fundamentals have got to start coming up towards valuations, otherwise valuations will com
CNBC
Oct 5, 2012 4:00pm EDT
to trump at the headline number, and mitt romney will try and talk about the fundamentals, and i think the facts are on governor romney's side, actually. >> so from one conspiracy to soot. we want you to listen to this. sticking with the economy and jobs, listen to what governor martin o'mally had to say about why things are not moving in the right direction. >> they want to slow the economy before the election. if you don't believe that, then i have a bridge i want to sell you in brooklyn. that is what the republican obstructionists in congress have been about. you can create excluses for thee guys if you want, but the fact of the matter is every single jobs bill the republicans in congress have voted against. >> carly, what do you say to that? >> wow. you know, first of all, i thought the democrats couldn't get much lower when harry reid took to the floor of the u.s. senate and accused governor romney of not paying taxes for ten years. last week, nancy pelosi implied that there was no security at the embassy in libya was because the republicans had employed cuts in that area. they un
CNBC
Oct 5, 2012 4:00am EDT
seem to view the prospect of a romney resurgence rather positive. why? >> i don't believe that another four years of what we've just seen is going to get us out of the woods. for that reason, i think it's time for a change. if i look at what obama is projecting, it will be higher taxes, higher debt, and it will bei be not much else other than more government spending. and that won't make the difference. so i think fiscal uncertainty has to be removed in order for the corporates to spend the huge amount of cash that they're holding. and at this point not investing. the fiscal -- i don't want to call it the fiscal cliff because that's not so important. the question is getting certainty into the situation for corporates to invest again. >> okay, good to have you on on. plenty more to come from you. but what do you think the jobs number will be? let us know. e-mail or tweet us. so just over an hour into the trading day here in europe. let's show you where we stand. just weighted to the up side. pretty flat day for european stocks. 6:4 advancers currently outpacing decliners. we are a quart
CNBC
Oct 3, 2012 4:00pm EDT
more than ever. >>> would ceo's make romney president? wait until you hear the rationale. >>> and facing realities of the digital age. facebook may be watching your web searches to steer relevancy your way. is it just good business? we'll debate both sides of the issue coming up. back in a moment. margin. mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. [ man ] when i'm in my zone... every move i make is a statement... ♪ ...that inspires me to make my mark. ♪ [ male announcer ] the all-new lexus es 350. ♪ boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ j
CNBC
Oct 5, 2012 12:00pm EDT
, can't debate so change numbers. we'll see if mitt romney addresses that when he speaks in a few moments. have a good weekend. let's get to headquarters and "fast money" halftime. >>> welcome to the "halftime report". four hours to go before the close. the dow jones average that's a four year high from the dow, higher by -- it's over here. higher by 56 points. i need my glasses. s&p 500, 1466, a begin of more than five points. remember that number because we'll talk about goldman sachs. nasdaq higher by five points, 3154. here's what we're following. bullish on 2013. goldman sachs slaps a 1575 target on the s&p for next year but sees stocks dropping 15% this year. decline of more than 200 points in the s&p. what speed bumps are ahead important the rally. do you buy hp and sell facebook? one of the biggest loser of the week may be a better bet than a billion friends. we're trading the big movers today. we live dangerously here. first our lead story the jobs report. lots of conspiracy theorys flying around. unbelievable job numbers these chicago guys will do anything. can't debate
CNBC
Oct 5, 2012 9:00am EDT
would be at 12 or 13 by now? >> really? >> yes. >> they rallied yesterday off the perception that romney won the debates. health care, for instance, hitting at another high here. if we take a look at the etf that tracks health care, xlv, that's the new 52-week high, and the kol is up by 1.25%. the financials seem that will do better under a republican administration. kohl's is interesting, jim, because there are a couple of positive analysts out saying that now with nat gas is $3 and maybe there could be a bid for coal. coal in the east is 4 to 5 is where nat gas has to be competitive. and union pacific is the major player in the way coal is shipped out west. union pacific remains a buy. if you want to buy and be reg rouse about it you can buy union pa sick and not pea body. >> some of the japanese automakers are worth watching. the ft has numbers out. the exports of autos to china in the past month have been sharply lower among japanese automakers. toyota was down 40% year on year in the month of september and we're seeing the adrs trade down a percent. >> take a look overall at asian e
CNBC
Oct 2, 2012 6:00am EDT
with that. >> if you comfortable saying that. >> i am. >> you know how they cut everything romney says, they cut out all the stuff on both sides of it? all we'll have for you is saying it tit, tit. remember faber, remember what he said? >> yes. the work on his finger. and you let him -- >> no, he stopped right after -- >> he stopped right after you said you what? >> yeah, anyway, boeing engineers and technical workers -- >> who did we have on last week who had a fluffer? >> a fluff off line of clothes. >> right, lululemon. >> is it not lululemon? >> in france it is. >> yeah, it is. what's happening here? the workers are voting to reject the pay offer from boeing. talks are set to resume today. a separate vote is required to authorize a strike so it doesn't necessarily mean it will happen. most experts say at this point that a strike is unlikely. >> we have another stock to mention this morning and that's google. shares hitting an all-time high yesterday after the search engine giant's stock at this point is now the second largest on the nasdaq 100 index. of course apple the biggest. it
CNBC
Oct 3, 2012 6:00pm EDT
prices for all. that's a platform i could vote for, if only obama or romney would embrace it. lawrence in texas, lawrence? >> caller: jim, how are you doing? i have a question for you today regarding rpm. the earning report came out today. long or short in the stock? >> short that, you have to short that plentiful dividend. i never recommend that idea. you don't want to do that, boss. i was going to recommend this and then i felt that the upside was very, very limited. good numbers. i should have done it. i really did kick myself at this one. i thought if i recommended it, the stock would go up too much. ron in louisiana. ron? >> caller: jim. i've got to thank you. you're the best. i've been investing for 55 years and didn't make money until the last five. guess why? jim cramer. >> thank you. thank you. >> caller: thank you. jim, my question to you is will tim geithner's message to aig affect the long-term outlook? and if so, up or down? >> i would not worry about tim geithner when it comes to aig. just worry about mr. benmosche and what he's doing. carolyn in florida. carolyn? >> call
CNBC
Oct 2, 2012 4:00pm EDT
this message. ck o romney: "it's time to stand up to the cheaters" vo: tough on china? not mitt romney. when a flood of chinese tires threatened a thousand american jobs... it was president obama who stood up to china and protected american workers. mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. >>> welcome back. it's not hard to tell when hedge fund manager david einhorn told investors today that he thinks chipotle's stock is short. my next guest couldn't disagree more with the short call. he's damon vickers. good to have you on the program, damon. thanks for joining us. why do you think you're right? >> well, yeah, you named it. look, i think we own chipotle. we also own yum brands. his assertions, one by one, seem kind of an empty bag. they don't
CNBC
Oct 3, 2012 12:00pm EDT
. and if that occurs, the reform as essentially written will go into place. if romney/ryan win, i think all bets are off. >> so if romney wins, you have to change your investment thesis and your ideas for what stocks could work in a romney administration? >> no, not really. you've had me on the program several times and i consistently try to talk about did your only investment themes. and that's one category is innovation, that's important new medicines for grieve vus illnesses. and another theme that will be with us regardless of who the president is and who controls the senate and house is cost of health care. yes, i would submit to you that if romney wins, it's going to have a knee jerk response to a few of those sectors, but what i'm really talking about and what we're focused on is things we think will unfold over the next many years. >> among your top five holdingses you have gilead in there, so that goes toward the technology and development of drugs. how about some of the other best picks in your portfolio right now? >> well, one that i want to share with the audience is a little small c
CNBC
Oct 7, 2012 7:30pm EDT
a romney rally following the presidential debate. the market was mixed, though, on friday. the auto sales are powering on an annualized basis, auto sales hit 15 million units, the best number since march of '08. gm and ford posted flat numbers but chrysler, toyota and volkswagen were strong. >>> a major milestone for facebook. the social network surpassed the 1 billion user mark for the month of september. ceo mark zuckerberg made the announcement this week. the company stock is down from its share price earlier this year. >>> there's no such thing as a foolish question about money, the markets or the economy. so says my next guest tom gardner, ceo of "the motley fool." tom, good to see you, thank you for joining us. >> good to see you, maria. >> we got the numbers out on friday showing 114,000 new jobs created for the month. the unemployment rate the lowest in 3 1/2 years, 7.8%. were you surprised by the numbers? what do you think it tells us where we are in the recovery? >> this is good news, no question. i think there are a couple of things to remember. first you get the context. we're
CNBC
Oct 2, 2012 1:00pm EDT
and governor mitt romney putting the finishing touches on their preparation before the big debate tomorrow night but will the debates make a big difference? brand new nbc news/"wall street journal" poll released just this minute looks at how closely people will be watching >> eamon javers in washington now with the latest. >> the stakes did just get a little bit higher for those debates in the presidential level this week. take a look at these results now from the new nbc news/"wall street journal" poll which we can bring you. the question asked to voters how important is the debate in picking a president? 38% staying is extremely or quite important. as you can see, that's higher than the respondents said in 2004 and in 2000. that's an interesting number but also interesting the folks who said it was somewhat or not at all important at 62%. that may be an indication that a lot of people in this country have already made up their minds, tyler. that might mean things are tough for those candidates who want to shake things up with this debate this week. >> very interesting. thank you very muc
CNBC
Oct 1, 2012 4:00am EDT
post" abc news poll shows 49% of likely voters favoring the president versus 47% for romney. amongst all registered voters, obama hold as five point lead, but 52% of them are being a stros swi acrosses swing states, they favor the obama. the debate starts wednesday at 8:00 p.m. eastern. >>> and if president obama is reelected, one of the first job may be to find a replacement for geithner. the wall street journal reports the white house chief of staff jack lew and former clinton chief of staff are two top candidates. both budget experts and could play a major role in the looming fiscal cliff. >>> nokia's into another big customer for its mapping software. the "wall street journal" says the company will unveil a deal with oracle today in san francisco. nokia also recently signed deals with groupon and amazon. nokia a got into the map business with it purchase and has been expanding the service. and back to the banks, shares in banco have been suspended. the bank has announced it will report record write downs of 9.3 billion euro this is year and have suspended its dividend this month.
CNBC
Oct 2, 2012 3:00pm EDT
know you're getting ready for the big debate tomorrow night between the president and mitt romney. i want to ask you about politics and investing. first, what do you think about this market? what are you hearing from clients? you think we're going to continue to see chasing of high beta stocks or has this market gotten tired? >> our clients are scared. what we're hearing first and fare mo foremost is a lot of uncertainty. is europe going to melt down? are we going to have a fiscal clif cliff in the u.s.? is israel going to bomb snooirn on top of that, they're hearing the dysfunctional politics from the u.s. election. they're hearing president obama does not have the answer. they hear from the other side that neither does mitt romney. they're scared. so many of our clients have actually been on the sidelines. this has been a relatively low volume rally. i think it still has legs. i think multiples are reasonable and there's still room to go. >> that's what we have pondered here lately, dick. is this sort of stealth rally, as i called it before -- here we sit near 5 1/2 rear hiyear hig
CNBC
Oct 5, 2012 1:00pm EDT
that governor romney paid no taxes. if this were to be true -- >> tyler, tyler, tyler -- >> if this were to be true sir. >> tyler, stop. >> let me finish my thought. >> did the workforce participation rate change? no. it's still a 30-year low. did the u6 computation 14.7% change? no. so how is it that we had a drop of .3 percentage point on the unemployment rate if these other statistics which related to that do not change? and don't challenge my intelligence, because i tell you, it wasn't too long ago that we were being told that a video was the imminence for this spontaneous attack that ended up killing an ambassador. so there are a lot of questions that come out of this administration. i'm not talking about impeachment. i just want someone to come clean with the process and methodology because there is a lot of inconsistencies. >> congressman, thank you very much. we appreciate you being with us. >> you have a great day. >> you, too. >> absolutely. >>> meantime, gentlemen, a number of media organizations have been reporting about how the white house may be trying to convince defense c
CNBC
Oct 5, 2012 2:00pm EDT
race and the debate the other night. boone pickens firmly believes that mitt romney is the man with the right energy plan. let's chat with boone. boone pickens, founder of bp capital among many other things that he's done. i want to push back on you a bit here, boone. mitt romney saying i'm going to do this, open up more lands. yet when i read reports from companies that drill for gas they can't get the equipment to the people there. anyway, do we have as a nation the infrastructure to actually go after more of our own resources? >> we do have. but i think that the industry's kind of solared up here in the last two, three months. we've got plenty of resources. infrastructure in the northeast especially in the marcellus needs to advance a little bit. all that will happen. and now you still have very cheap natural gas prices. it is about 30% of what it is around the world. so very cheap. we have the cheapest energy in america. oil today is $90 a barrel. brent north sea the global price is normal in this country. i know you have the california problem on the gasoline. if i could j
CNBC
Sep 30, 2012 7:30pm EDT
candidate mitt romney meet in the first presidential debate. this one focusing on domestic policy. on thursday, we'll get the minutes of the last meeting of the federal reserve open market committee. this one's the meeting when the fed governors approved another round of quantitative easing. and on friday, the always anticipated monthly jobs report will be released. we will find out if there's any change to the 8.1% unemployment rate for america. >>> finally, are you ready to hand over the wheel at google headquarters this week, california governor jerry brown signed a law legalizing driverless cars. the search giant has been developing self-driving cars for several years. they use cameras and radar to detect other vehicles. and have reportedly logged more than 300,000 road miles without an incident. implementing this idea is right on schedule. >>> you know, it was just at the 1939 worlds fair when general motors predicted a highway system full of electric cars controlled by remote radio as part of the company's futurerama exhibit and predicted those cars would be on the road in 1
CNBC
Oct 5, 2012 5:00pm EDT
-elected -- i think there was excitement with romney -- >> i want you to explain the differential to all the audience. but in the meantime we're going to explain the put calendar. we've done calendars of course, so let's crack open the play book and see how this thing works. in this strat jir you use the money to buy a longer data put. this is a bearish strategy. it does require timing though. below the strike of the longer dated put that you're long by the second expiration. so, dan, walk us through the trade. >> sure. so i did this today. here's the thing. i'm going to do this trade in earnest. like you said, i have to thread the needle and get the strikes right. i chose october/november, when the stock was basically 4 x $2. so what i did was i sold the october 41 put at 50 cents and i used the proceeds to buy the november 41 put for a dollar. and so what i'm doing here is trying to take advantage of the difference between october call, basically four points over november. what i need to happen to make money on this trade, be i october expiration, which is basically two fridays from no
CNBC
Oct 6, 2012 6:00am EDT
of excitement with romney this week -- >> right. >> -- i think he still gets elected, and i think some air comes out of these stocks. >> and i want you to explain vol differential to all the audience. but in the meantime we're going to explain the put calendar, which is the trade that you're putting on tonight, dan. we've done calendars before, of course, but it's always good to refresh, so let's crack open the playbook and see how this thing works. in this strategy you sell in your data put and use that money to buy a longer data put of the same strike. this is a bearish strategy. it does require timing though. you want the stock to be above the strike of the put you're short by the first expiration but below the strike of the longer data put that you were long by the second expiration. so, dan, walk us through the trade. >> sure. so i did this today, and here's the thing. i'm going to do this trade in earnest next week, wednesday or thursday prior to earnings because like you said, you've got to thread the needle here and you've got to get the strikes right. but i chose october/november of 41
CNBC
Oct 1, 2012 9:00am EDT
chairman reince priebus. why? what a day to have him. mitt romney wrote an op ed. we'll talk about that and the op ed below it that talks about the next battleground, the state labor wars. and then the "santelli exchange," bottom of the hour. what we're going to talk about, to be or not to be. is inflation gestation or inflation on vacation? we'll talk about that and all the issues that involve your money. top and bottom of the hour. mentm and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. [ male announcer ] the exceedingly nimble, ridiculously agile, tight turning, fun to drive 2013 smart. ♪ >>> welcome back to "squawk on the street." i'm courtney reagan. let's take a look at shares of lane christensen. it's attractive with limited downside because the business itself protects this floor. as you can see
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